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Mortgage Market Update
Suzanne Camp
Suzanne Camp
Wednesday, August 19, 2026
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When refinancing actually makes sense |
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Hi there — this week I want to walk you through one of the most common questions I hear from clients like you.
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National Mortgage Rates · August 13, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Smart Money
What happens to your mortgage when rates drop
A lot of homeowners ask me whether they're locked into their current rate forever. The short answer: it depends on your loan type. If you have a fixed-rate mortgage, your rate and payment stay the same no matter what happens in the market — that's the security of "fixed." But if rates do fall significantly, you'd have the option to refinance into a new loan at that lower rate. It's worth keeping an eye on rate trends, even if you're not actively looking to move. Knowing where rates are headed helps you make smarter decisions about when to refinance, whether to lock in now, or simply understand your own financial position better. Let's talk about whether a rate check makes sense for your situation.
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Tip of the Week
Inspect your attic insulation. Proper insulation reduces heating and cooling costs and can prevent ice dams on your roof.
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Tips for Homeowners
Fall Home Prep: Heating, Safety & Systems
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1.
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Have your heating system serviced before it's needed. A furnace failure in winter is an emergency — routine maintenance costs far less than emergency repairs.
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2.
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Test smoke detectors and carbon monoxide detectors and replace batteries. Carbon monoxide poisoning risk rises when heating systems run more frequently.
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3.
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Drain and shut off exterior faucets and sprinkler systems before the first freeze to prevent burst pipes — one of the most expensive and disruptive homeowner emergencies.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Suzanne Camp team any time and we'll walk you through your options. |
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